Quest Diagnostics (DGX) Earns Underperform Rating from Analysts at Wolfe Research

Stock analysts at Wolfe Research began coverage on shares of Quest Diagnostics (NYSE:DGX) in a report released on Tuesday, April 2nd, The Fly reports. The firm set an “underperform” rating on the medical research company’s stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley set a $101.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a research note on Thursday, December 20th. Barclays reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Quest Diagnostics in a research note on Friday, February 15th. Mizuho set a $106.00 price target on Quest Diagnostics and gave the stock a “buy” rating in a report on Friday, February 15th. Canaccord Genuity restated a “buy” rating and set a $97.00 price target on shares of Quest Diagnostics in a report on Monday, February 18th. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price target for the stock from $93.00 to $107.00 in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. Quest Diagnostics currently has an average rating of “Hold” and an average price target of $102.83.

Shares of Quest Diagnostics stock traded up $1.10 during trading on Tuesday, reaching $95.34. The company’s stock had a trading volume of 1,027,023 shares, compared to its average volume of 1,325,961. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.87 and a current ratio of 0.78. The stock has a market cap of $12.53 billion, a PE ratio of 15.11, a PEG ratio of 2.21 and a beta of 0.90. Quest Diagnostics has a 52 week low of $78.95 and a 52 week high of $116.49.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 23rd. The medical research company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.04. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $152.00 earnings per share. Equities research analysts predict that Quest Diagnostics will post 6.4 earnings per share for the current fiscal year.

In other Quest Diagnostics news, Director Gail R. Wilensky sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $87.78, for a total value of $702,240.00. Following the completion of the transaction, the director now owns 34,604 shares in the company, valued at approximately $3,037,539.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 336 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $88.23, for a total value of $29,645.28. Following the completion of the transaction, the senior vice president now owns 42,108 shares of the company’s stock, valued at approximately $3,715,188.84. The disclosure for this sale can be found here. In the last three months, insiders sold 135,680 shares of company stock valued at $12,454,759. 1.86% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of DGX. Legacy Financial Advisors Inc. purchased a new position in Quest Diagnostics in the 4th quarter worth approximately $45,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Quest Diagnostics by 32.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after buying an additional 134 shares during the period. Doyle Wealth Management purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at approximately $48,000. Stevens First Principles Investment Advisors purchased a new position in shares of Quest Diagnostics during the first quarter valued at approximately $51,000. Finally, Spectrum Management Group Inc. purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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